Grupo CIRSA is set to refinance its business, by issuing a bond sale of new senior secured notes in the Blackstone-owned Spanish heritage gambling group.
Last week, CIRSA notified markets that it was aiming to raise a target of €650m in funding through its new bond placement. The new debt will consist of fixed rate and floating-rate bonds set to mature in 2028, with funds allocated to repay CIRSA’s outstanding bonds due in 2023 and 2025.
CIRSA latest refinancing comes less than a year since the firm was allowed to place €425m in a senior debt transaction maturing in 2027.
Corporate governance notified that it had agreed with banks last year to increase an existing credit line to €275m, with options on bond payments which can be extended into late 2026.
